Performance data quoted represent past performance, which does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For most recent month-end performance information click here.

†The Morningstar RatingsTM shown are as of 2/28/15 and are based on risk-adjusted 3-, 5-, and 10-year (if applicable) returns, and past performance is no guarantee of future results. The Pax World Small Cap Fund Individual Investor Class (PXSCX) Morningstar ratings were 4 stars out of 623 funds overall, 5 stars out of 624 funds for 3-years, 4 stars out of 566 funds for 5-years. The Pax World Small Cap Fund Institutional Class (PXSIX) Morningstar ratings were 5 stars out of 623 funds overall, 5 stars out of 623 funds for 3-years, 5 stars out of 566 funds for 5-years. The Pax MSCI International ESG Index Fund Individual Investor Class (PXINX) Morningstar ratings were 4 stars out of 638 funds overall, 4 stars out of 638 funds for 3-years. The Pax MSCI International ESG Index Fund Institutional Class (PXNIX) Morningstar ratings were 4 stars out of 638 funds overall, 4 stars out of 638 funds for 3-years. Ratings are subject to change every month. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.)

1 30 Day Distribution Yield: Funds income distribution paid in the preceding 30 days annualized. Annual Distribution Yield: actual annual income distribution paid including capital gains. 30 Day SEC Yield: Funds net income in the preceding 30 days annualized.